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REVENUE RECOGNITION (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Revenue by Major Products | A reconciliation of revenue recognized by our major products:
|  | QUARTER ENDED |  |  | YEAR-TO-DATE ENDED |
DOLLAR AMOUNTS IN MILLIONS |  | JUNE 2026 |  |  | JUNE 2025 |  |  | JUNE 2026 |  |  | JUNE 2025 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |
Timberlands segment |  |  |  |  |  |  |  |  |  |  |  |
Delivered logs: |  |  |  |  |  |  |  |  |  |  |  |
West |  |  |  |  |  |  |  |  |  |  |  |
Domestic sales |  | $ | 100 |  |  | $ | 102 |  |  | $ | 183 |  |  | $ | 200 |
Export grade sales |  |  | 71 |  |  |  | 67 |  |  |  | 132 |  |  |  | 138 |
Subtotal West |  |  | 171 |  |  |  | 169 |  |  |  | 315 |  |  |  | 338 |
South |  |  | 145 |  |  |  | 154 |  |  |  | 293 |  |  |  | 306 |
North |  |  | 9 |  |  |  | 8 |  |  |  | 23 |  |  |  | 22 |
Subtotal delivered logs sales |  |  | 325 |  |  |  | 331 |  |  |  | 631 |  |  |  | 666 |
Stumpage and pay-as-cut timber |  |  | 11 |  |  |  | 13 |  |  |  | 21 |  |  |  | 23 |
Recreational and other lease revenue |  |  | 20 |  |  |  | 19 |  |  |  | 40 |  |  |  | 38 |
Other(1) |  |  | 11 |  |  |  | 10 |  |  |  | 31 |  |  |  | 28 |
Net sales attributable to Timberlands segment |  |  | 367 |  |  |  | 373 |  |  |  | 723 |  |  |  | 755 |
Strategic Land Solutions segment |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  |  | 91 |  |  |  | 72 |  |  |  | 160 |  |  |  | 134 |
Natural resources |  |  | 34 |  |  |  | 26 |  |  |  | 61 |  |  |  | 45 |
Climate solutions |  |  | 15 |  |  |  | 56 |  |  |  | 126 |  |  |  | 69 |
Net sales attributable to Strategic Land Solutions segment |  |  | 140 |  |  |  | 154 |  |  |  | 347 |  |  |  | 248 |
Wood Products segment |  |  |  |  |  |  |  |  |  |  |  |
Structural lumber |  |  | 591 |  |  |  | 581 |  |  |  | 1,069 |  |  |  | 1,108 |
Oriented strand board |  |  | 180 |  |  |  | 205 |  |  |  | 347 |  |  |  | 433 |
Engineered solid section |  |  | 181 |  |  |  | 169 |  |  |  | 336 |  |  |  | 330 |
Engineered I-joists |  |  | 89 |  |  |  | 95 |  |  |  | 161 |  |  |  | 183 |
Softwood plywood |  |  | 47 |  |  |  | 41 |  |  |  | 85 |  |  |  | 81 |
Medium density fiberboard |  |  | 31 |  |  |  | 36 |  |  |  | 62 |  |  |  | 68 |
Complementary building products |  |  | 179 |  |  |  | 155 |  |  |  | 322 |  |  |  | 280 |
Other(2) |  |  | 62 |  |  |  | 75 |  |  |  | 142 |  |  |  | 161 |
Net sales attributable to Wood Products segment |  |  | 1,360 |  |  |  | 1,357 |  |  |  | 2,524 |  |  |  | 2,644 |
Total net sales |  | $ | 1,867 |  |  | $ | 1,884 |  |  | $ | 3,594 |  |  | $ | 3,647 |
(1) Other Timberlands sales include sales of seeds and seedlings from our nursery operations as well as wood chips. (2) Other Wood Products sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.

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